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Thirteen Railway lines are under construction for faster Coal Transportation

Newsmantra — Wed, 26 Jul 2023 12:55:05 +0000

The Thirteen Railway lines are under construction of Coal is coordinating with the Railways to enhance coal evacuation & distribution capabilities. At present, 13 Railway lines are being constructed in collaboration with the Ministry of Railways for the expansion of coal distribution capabilities, which are at various stages of construction.
In line with the goal of PM Gati Shakti, the Ministry of Coal has undertaken railway projects costing Rs. 26000 Cr to develop multimodal connectivity.

This information was given by Union Minister of Coal, Mines and Parliamentary Affairs Shri Pralhad Joshi in a written reply in Lok Sabha today .

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NLCIL to provide financial support of Rs.87 lakhs for the construction of Hostel building for tribal students

Newsmantra — Fri, 14 Jul 2023 06:40:58 +0000

NLCIL has come forward to provide financial support of Rs.87 lakhs for the construction of new Hostel building for tribal students of one of the most underdeveloped districts in Odisha. The foundation stone for the Hostel was laid at the school premises on 06.07.2023 by Shri Bishweswar Tudu, Union Minister of State for Jal Shakti and Tribal Affairs, at a function held at the school.

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MMR & Pune account for more than half of total real estate sales in India’s 7 largest cities

News Mantra — Fri, 30 Jun 2023 13:42:05 +0000

The Mumbai Metropolitan Region (MMR) and Pune have emerged as the driving forces of the real estate market in India’s seven largest cities. These two regions alone contribute to more than half of total real estate sales and have a significant 51 percent share, according to data from Anarock Research. This underscores the robust demand and appeal of these cities to homebuyers and investors alike, where an incredible 58,770 units were sold. This demonstrates the resilience and potential of the real estate market in these regions, fueled by factors such as infrastructure development, employment opportunities and a thriving urban lifestyle.

The rising interest rates on home loans, having increased by a total of 2.5% since May 2022, have not deterred homebuyers, and the bull market in the Indian housing market continues in the second quarter of the year. Quarterly residential sales in the seven largest cities are at an all-time high of about 1,15,100 units sold in the second quarter of 2023, up 36% annually from about 84,940 units sold in the second quarter of 2022, the study reports.

Meanwhile, on the new launches front the top 7 cities MMR, Pune, Bangaluru, Hyderabad, NCR, Chennai and Kolkata have once again crossed the one lakh mark, registering a 25% annual increase from 82,150 units in Q2 2022 to over 1,02,610 units in Q2 2023.

Key cities contributing to new launches in Q2 2023 included MMR (Mumbai Metropolitan Region), Hyderabad, Pune and Bengaluru, which together accounted for 84% of supply. Interestingly, MMR and Pune again recorded the highest number of new listings, accounting for 63% of total new listings in the seven largest cities. Individually, the two cities recorded 31% and 29% annual growth in new listings, respectively. According to the report, Pune saw the highest increase in the number of units sold at 65%. In the second quarter of 2023 about 20,680 units were sold. MMR saw a 48% increase in residential sales with 38,090 units sold, while Bengaluru saw a 31% increase with 15,050 units sold in the second quarter.

MMR and Pune’s dominance in the residential market shows that they are considered prime investment destinations, attracting both domestic and international buyers. With a diverse range of properties, including luxury flats, affordable housing and commercial spaces, these cities appeal to a wide spectrum of buyers with different preferences and budgets. The continued growth and prominence of MMR and Pune in the real estate sector reflect the cities’ ability to provide a conducive environment for individuals looking to own their dream home or make profitable investments. As demand for housing continues to rise, these regions are expected to maintain their pre-eminence and drive the overall growth of the real estate market in India’s major urban centres.

Anuj Puri, Chairman, ANAROCK Group, says “ The housing market is yet to feel the impact of the home loan rate hike early this year, and of the global economic headwinds. It continues to be on a roll with the momentum remaining strong even in the second quarter of 2023. Housing sales in the top 7 cities broke the previous high record of Q1 2023 and stood more than 1.15 lakh units in Q2 2023. Pune and MMR were the only two cities to see quarterly rise in housing sales of 4% and 10% respectively while other cities saw some dip. But on yearly basis, most top 7 cities saw significant jump in housing sales.”

Average property prices in the 7 largest cities have risen by 8% annually Hyderabad recorded the biggest jump of 10%, while Bengaluru, NCR and MMR each saw a rise of 9%. In MMR, around 43,390 units were launched in Q2 2023, an increase of 31% over Q2 2022. More than 61% of the new supply was launched in the sub-80 lakh price segment.

As per the Anarock report NCR is the only city where flat sales have shown only single-digit annual growth (of 7%) compared to all other cities: from 15,340 units in Q2 2022 to nearly 16,450 units in Q2 2023. In Kolkata, flat sales grew by 20% compared to Q2 2022, with approx. 5,780 units sold in Q2 2023. Hyderabad recorded sales of approximately 13,570 units in Q2 2023, an increase of 21% over Q2 2022, followed by Chennai, where approximately 5,490 units were sold in Q2 2023 – an increase of 44% over Q2 2022

The report also mentioned that the average residential property prices in the seven largest cities increased by 6-10% in Q2 2023 compared to Q2 2022, mainly due to increase in construction commodity prices and overall increase in demand. Hyderabad recorded the highest annual increase of 10% and stands at INR 4,980 per square metre at the end of 2Q2023, although the number of new flats brought to the market this year increased by 51% to 10,470 units in 2Q2023

Amid robust sales, available inventory in the top 7 cities declined 2% on an annual basis to about 6.14 lakh units at the end of Q2 2023. The NCR witnessed the steepest annual decline of 21% amid lower new supply from over 1.41 lakh units at the end of Q2 2022 to nearly 1.11 lakh units at the end of Q2 2023. This is a significant decline in this real estate hotspot

-SURESH RATHOD

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Housing prices in NCR increase by 16% YoY, while property prices in MMR dipped by 2% in first quarter of 2023: Report

News Mantra — Thu, 15 Jun 2023 10:05:12 +0000

Average Housing prices in NCR Region increased by 16% YoY, highest amongst the top eight cities as per the Housing Price Tracker Report released by CREDAI, and real estate analytics firms Colliers and Liases Foras. While average property prices in Mumbai Metropolitan Region (MMR) dropped by 2% in Q1 2023.
However, Mumbai was the only exception since residential prices went up by 16% in Delhi-NCR, 15% in Kolkata, 14% in Bengaluru, 13% in Hyderabad, and 11% in Ahmedabad and Pune, the data showed. The residential prices of Mumbai rose to 16% followed by MMR’s Panvel recording a rice rise at 9%, followed by the western suburbs at 6.4% YoY.
On unsold inventory front Mumbai had the largest share of unsold inventory at 37%. While the unsold inventory rose to 29% in MMR region and only Noida region of NCR saw maximum number of unsold units of which 42% of the unsold units fell in the price range of INR2,500 – 5,000 per sq ft. Pune unsold inventory was at 13%, and Delhi-NCR recorded 12% unsold inventory as per the report.
MMR region with the average property prices having dropped by 2% settled at INR 19,219 per square feet in the first quarter of 2023. It was INR 19,557 in the corresponding period last year, as pert the Housing Price Tracker Report. Unsold inventory continues to see a rise in MMR; up 29% YoY with majority of the unsold units falling in the price range of INR7,500-10,000 per sq ft out of which about 50% are in Central Suburb extension said the report.
Despite the rise in housing prices, demand remains strong, especially in tier 1 cities. Developers are focusing on delivering relevant supplies at the right price and location.
Pankaj Kapoor, managing director, Liases Foras, said, “The 2022-23 financial year witnessed the highest-ever new launches and sales across major Indian cities. The trends will likely continue, the sales and supply will likely grow, and the price rise will be moderate.”
The report mentioned Pune housing prices firming up by 11% YoY in Q1 2023, with prices in Kothrud and Chinchwad recording the highest per sq ft price increase at 13% YoY. Prices of 2 BHK and 3 BHK units have shown maximum rise of 9% YoY, with increasing demand in these configurations. Chinchwad accounted for about 42% of the unsold inventory in the city out of which maximum units fell in the price range of INR5,000-7,500 per sq ft.
For Ahmedabad, Q1 2023, saw an 11% increase in housing prices, on a YoY basis. With the recent rise in Jantri rates, housing prices are likely to increase further. Unsold inventory in the city increased 37% YoY, led by the rise in new launches mentioned the report.
The report also reported about Kolkata’s unsold inventory going up 13% YoY, which was recorded the highest in the last 6 quarters. The housing prices in the city of joy increased 15% YoY during Q1 2023. North Kolkata saw the highest rise in prices at 25% YoY followed by Southeast Kolkata. Prices in 3BHK units saw the highest rise at 19% YoY followed by 2BHK units owing to their rise in demand quoting the report, while East Kolkata accounted for the highest unsold inventory, of which most of the units (33%) falls in INR 5,000–7,500 per sq ft price range.
Housing prices in the city witness a sharp rise of 46% compared to pre pandemic levels in Hyderabad, while Bengaluru housing prices rose 14% on YoY basis due to strong demand and Chennai recorded an increase by 4% on YoY basis. Prices for 1BHK and 4BHK configurations rose in the range of 6-8% on a YoY basis in Chennai, while the overall housing prices in Bengaluru increased 14% YoY during Q1 2023, Inner North region saw a drop in prices at 13% YoY due to limited demand. For Hyderabad housing prices saw a constant rise since the last 9 quarters. Overall, housing prices surged 13% YoY with highest rise seen in Central Hyderabad at 55% YoY. Prices of 4BHK units saw the highest increase at 23% YoY, followed by 1BHK units quoted the report.

-SURESH RATHOD

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Two crore Construction Workers received cash assistance

Newsmantra — Tue, 23 Jun 2020 09:27:20 +0000

In a significant move, the State Governments, in response to the advisory issued by the Ministry of Labour & Employment, have disbursed a substantial amount of Rs 4957 crore cash assistance till date to approximately two crore registered construction workers across the country during the lockdown. About 1.75 crore transactions were done directly into the bank accounts of the workers through Direct Benefit Transfer (DBT). Apart from cash benefits ranging from Rs 1000 to Rs 6000 per worker during the lockdown, some of the States have also provided food and ration to their workers.

During the challenging times of COVID-19 lockdown, Ministry of Labour & Employment, which is the Nodal Central Ministry to coordinate with all the State Governments and State Welfare Boards in the matter of welfare of the construction workers, has left no stone unturned in ensuring timely cash transfers to them, when they needed it the most.

The building and other construction workers (BOCW) are the most vulnerable segment of the unorganized sector workers in India. They work under aggravating conditions with uncertain future. A large chunk of them are migrant labourers working in different states far away from their native places. They play a significant role in nation-building yet find themselves on the margins of the society.

The Building and Other Construction Workers Act, 1996 was enacted to regulate the employment and conditions of service of these workers and to provide for their safety, health and welfare measures. The Act along-with the Cess Act has played a significant role in coming to the rescue of construction workers by providing them subsistence during the tough times of pandemic. Under the Act, the State Governments through their State Welfare Boards are mandated to frame and implement welfare schemes for construction workers. The fund comprises the Cess @1% of construction costs which is levied and collected by the State Governments and remitted to the Welfare Fund.

A timely advisory was sent to all the Chief Ministers on 24th March, 2020 by the Union Minister of Labour and Employment, advising the States to frame a scheme under section 22 (1) (h) of the Act, for transfer of adequate funds in the bank accounts of construction workers through direct benefit transfer (DBT) mode. The amount to be granted to the construction workers was to be decided by the respective State Governments necessary for their subsistence. The advisory was issued to help mitigate the financial crisis faced by construction workers. A similar letter was also written by the Secretary of Labour & Employment to the Chief Secretaries of all the States and vigorously followed through Video Conferencing from time to time.

There are some Building and Other Construction Workers, who are still out of the range due to reasons such as their migratory nature, changing work-sites, low levels of literacy and awareness. In order to address the issue, the Union Ministry has planned to launch a Mission Mode Project to fast track the registration of the left-out Workers, portability of benefits, universalisation of social security schemes on health insurance through Pradhaan Mantri Jan Arogya Yojna (PM -JAY ), life & disability cover through Pradhaan Mantri Jeevan Jyoti Bima Yojna (PMJJBY) & Pradhaan Mantri Suraksha Bima Yojna (PMSBY), life-long pension during old age through Pradhaan Mantri Shram-Yogi Maandhan Yojna (PM-SYM) and provision of transit accommodations in large cities.

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Review of Construction of Indigenous Aircraft Carrier

Newsmantra — Tue, 21 Jan 2020 05:52:19 +0000

The progress of Indigenous Aircraft Carrier (IAC-P71) project was reviewed by the Empowered Apex Committee (EAC) headed by Shri Ajay Kumar, Defence Secretary at Cochin Shipyard Limited. The review critically examined the current status of the project as the IAC is in a very advanced stage of construction and is scheduled to commence Basin Trials in early 2020 followed by the Sea Trials by mid 2020. This is the 13th EAC Review Meeting of the Project and the first to be held after the signing of the Phase-III of the IAC Contract on 31 Oct 2019 between Government of India, Ministry of Defence & Cochin Shipyard Limited.
The Defence Secretary was accompanied by Vice Admiral Ashok Kumar, Vice Chief of Naval Staff, Vice Admiral GS Pabby, Chief of Materiel, Vice Admiral SR Sarma, Controller Warship Production & Acquisition from IHQ MoD(Navy) and other senior officers from IHQ MoD(Navy), Warship Overseeing Team and Carrier Acceptance & Trials Team.

IAC construction is in an advanced state with all four Gas Turbines, main engines having been started, Power Generation Systems comprising of eight Diesel Alternators ready and trials of ship’s major systems and auxiliary equipment in progress. IAC had successfully completed the Pre-Contractors Sea Trials dry dock work package in Dec 2019. Basin trials are conducted for proving of the propulsion, transmission and shafting systems and is scheduled in early half of 2020. The Aircraft Carrier would be ready to commence the Sea Trials once the Basin trials are successfully completed.

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Risland to unveil SSGF technology in India through ‘The Icon’

Newsmantra — Thu, 19 Dec 2019 05:30:16 +0000

Multi-national real estate firm Risland launches The Icon in Thane

After successfully entering into the Indian market, Risland, a Hong Kong based multi-national real estate firm Risland to unveil SSGF technology in India through ‘The Icon’ in Thane.

The Icon is using SAFE, SUSTAINABLE, GREEN & FAST (SSGF) construction technology that is introduced for the first time India. It is a German construction technique which is a combination of 12 construction technologies. This technique ensures speedy construction which is two times faster & stronger than average construction speed.

Risland Holdings internationally offers a wide range of services such as residential development, commercial real estate operation, property management and infrastructure construction and operation. So far Risland has developed landmark projects in many countries including the United States, New Zealand, Thailand, Indonesia, Bangkok and India. Some revolutionary establishments by the group are the Skyline Tower in New York, Cloud Thonglor, Lake Serene and Artisan Ratchada in Thailand, Neo in New Zealand, Sky House, Alam Sutera and BSD City of Indonesia and Sky Mansion in New Delhi.

As a promising international real estate company, Risland Holdings is committed to boosting social development and providing better and comfortable residential environment through offering diversified environment-friendly, innovative, smart, quality and user-friendly products and comprehensive community facilities and services.

The Icon project in Thane launched by Risland is RERA registered and Phase I of the project is formally launched for sales. The project has approximately 6.88 acres of land parcel, is a landmark residential project at Dhokali, Thane offering 2 and 3 BHK apartments with smart design and amenities. The Icon has launched India’s first real estate Live Vision Pavilion at the Sales Center.

The Icon provides some unique features and amenities that differentiate it from other projects in the city like balconies in all rooms, smart lock and security features and age specific amenities. The project also adopts indigenous plants from their places of origin to create naturally green multidimensional landscape which is a signature USP of the brand.

Strategically located at Dhokali, the The Icon enjoys great connectivity, via Kolshet road, Majiwada junction, Eastern Express Highway, Bhiwandi highway, Nashik Highway and Mumbai Pune Expressway, the project has a 300m approach road and is 5 minutes away from the nearest upcoming Metro 4 station Kapurbawdi. Apart from the 32km metro line connecting Thane’s Kasarvadavali to Wadala, prominent infrastructure development around the locality include the Thane to Dahisar monorail, Metro 5 (Thane-Kalyan) and the Thane-Borivali road tunnel.

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Use of Plastic Waste in Development of Road

Newsmantra — Thu, 28 Nov 2019 09:47:20 +0000

Indian Roads Congress (IRC) has formulated ‘Guidelines for the use of Waste Plastic in Hot Bituminous Mixes (Dry process) in Wearing Courses’ based on laboratory as well as field performance studies/ investigations carried out in India.

To encourage use of waste plastic on National Highway (NH), Ministry has issued Guidelines for its use within 50 km periphery of urban areas having population 5 lakh or more. The Guidelines also stipulate to take up a stretch of at least 10 km as pilot project for assessment of its performance. Waste plastic has already been utilised in wearing course of about 50 km of NH stretches.

This information was given by Union Minister for Road Transport and Highways Shri Nitin Gadkari in a written reply in Lok Sabha today.

Gadkari also said An amount of Rs. 1850 crore is likely to be spent on the Char Dham Programme in the current financial year. The Char Dham Programme was initially targeted for completion by March, 2020. However, the schedule date of completion of the programme has been delayed mainly due to litigation.

The projects under Char Dham Programme include widening of existing roads along with adequate/ sufficient slope protection by way of erection of retaining walls and breast walls and by deploying drapery system, netting, anchoring, reinforced wall etc. as per Detailed Project Reports.

The projects also include mitigation measures/ stabilisation of chronic landslide & sinking spots/zones as standalone project or part of road widening projects to avoid land slide and safety of road users. Bio engineering methods like hydro seeding are being used for vegetative growth on fragile slopes for their stability. All these measures shall safeguard the highway and habitation against natural calamity.

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Collect Garbage Get Free Food

Newsmantra — Wed, 09 Oct 2019 06:27:14 +0000

The country’s first Garbage Cafe is going to start in Ambikapur from today. If you do not have money in your pocket, do not worry, you will also be able to get food for free by bringing plastic lying on the road.

A new initiative has been taken in Chhattisgarh to prevent damage to the environment from plastic. Ambikapur Municipal Corporation of Chhattisgarh has opened a garbage café to give food to citizens in lieu of plastic waste.

The Garbage Cafe will be open 24 hours. Garbage Cafe remains a topic of discussion even before it starts. This experiment is highly appreciated. If you bring one kg of plastic, then you will get a one-time full khana while giving 500 grams of plastic you can have a breakfast.

The plastic collected in this café will be used for road construction. Even before this, roads have been constructed in the city with plastic pieces and asphalt. 5 lakh rupees has been given for this garbage café in the budget. Under this, the Municipal Corporation will feed poor and homeless people for free.

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